SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934 (Amendment No. 5)

Westwood Holdings Group, Inc.
(Name of Issuer)

Common Stock $0.01 Par Value Per Share
(Title of Class of Securities)

961765104
(CUSIP Number)

James E. McKee
Gabelli Asset Management Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5294
(Name, Address and Telephone Number of Person Authorized to Receive Notices and 
Communications)

February 11, 2005
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report 
the acquisition that is the subject of this Schedule 13D, and is filing this 
schedule because of Section 240.13d-1(e), 240.13d-1(f)
or 240.13d-1(g), check the following box.  

CUSIP No. 961765104                                                             
1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Gabelli Asset Management Inc.                                                      
I.D. NO.  13-4007862    
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)     
(a)     

(b)     

3
SEC USE ONLY

4
Source of funds (SEE INSTRUCTIONS)
WC

5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 
PURSUANT TO ITEMS 2 (d) OR 2 (e)   

6
CITIZENSHIP OR PLACE OF ORGANIZATION
New York

NUMBER OF

SHARES

BENEFICIALLY

OWNED

BY EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER                               

1,023,250 (Item 5)

8

SHARED VOTING POWER                             

NONE

9

SOLE DISPOSITIVE POWER                          

1,023,250 (Item 5)

10

SHARED DISPOSITIVE POWER                        

NONE
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,023,250 (Item 5) 
12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)                      
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

17.78%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC, CO
CUSIP No. 961765104                                                             
1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Gabelli Group Capital Partners, Inc.                                            
I.D. NO.  13-3056041    
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)     
(a)                     

(b)     

3
SEC USE ONLY

4
Source of funds (SEE INSTRUCTIONS)
None

5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 
PURSUANT TO ITEMS 2 (d) OR 2 (e)   

6
CITIZENSHIP OR PLACE OF ORGANIZATION
New York

NUMBER OF

SHARES

BENEFICIALLY

OWNED

BY EACH

REPORTING

PERSON

WITH 

7

SOLE VOTING POWER                               

None 

8

SHARED VOTING POWER                             

NONE

9

SOLE DISPOSITIVE POWER                          

NONE 

10

SHARED DISPOSITIVE POWER                        

NONE
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

NONE 
12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) X                                                                    
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

NONE 
14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC, CO
CUSIP No. 961765104                                                                             
1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Mario J. Gabelli        
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)     
(a)     

(b)     

3
SEC USE ONLY

4
Source of funds (SEE INSTRUCTIONS)
None

5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 
PURSUANT TO ITEMS 2 (d) OR 2 (e)   

6
CITIZENSHIP OR PLACE OF ORGANIZATION
USA

NUMBER OF

SHARES

BENEFICIALLY

OWNED

BY EACH

REPORTING

PERSON

WITH

7

SOLE VOTING POWER                               

None 

8

SHARED VOTING POWER                             

NONE

9

SOLE DISPOSITIVE POWER                          

NONE 

10

SHARED DISPOSITIVE POWER                        

NONE
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

NONE 
12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) X                    
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.00%
14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN

Item 1.         Security and Issuer
This Amendment No. 5 to Schedule 13D on the Common Stock of 
Westwood Holdings Group, Inc. (the "Issuer") is being filed on behalf of the 
undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which 
was originally filed on August 28, 2003.  Unless otherwise indicated, all 
capitalized terms used herein but not defined herein shall have the same 
meaning as set forth in the Schedule 13D. 

Item 2.         Identity and Background
(a) (b) and (c) - This statement is being filed by Mario J. Gabelli 
("Mario Gabelli"), Gabelli Group
Capital Partners, Inc. ("Gabelli Partners"), and Gabelli Asset Management Inc. 
("GBL").  The foregoing persons signing this Schedule 13D are hereafter 
referred to as the "Reporting Persons".   
Gabelli Partners makes investments for its own account and is the 
parent company of GBL.  GBL, a public company listed on the New York Stock 
Exchange, is the parent company for a variety of companies engaged in the 
securities business. 
Mario Gabelli is the majority stockholder and Chairman of the Board 
of Directors and Chief 
Executive Officer of Gabelli Partners and GBL.  
Gabelli Partners and GBL are New York corporations.  GBL has its 
principal offices at One Corporate Center, Rye, New York 10580.  Gabelli 
Partners has its principal offices at 140 Greenwich Avenue, Greenwich, CT 
06830.
For information required by instruction C to Schedule 13D with 
respect to the executive officers and directors of the foregoing entities and 
other related persons (collectively, "Covered Persons"), reference is made to 
Schedule I annexed hereto and incorporated herein by reference.
(f) - Reference is made to Schedule I hereto.

Item 3.         Source and Amount of Funds or Other Consideration
Item 3 to Schedule 13D is amended, in pertinent part, as follows:
GBL used approximately $1,985,505 of working capital to purchase 
the additional Securities reported by it since the most recent filing on 
Schedule 13D.

Item 5.         Interest In Securities Of The Issuer
Item 5 to Schedule 13D is amended, in pertinent part, as follows:
(a)     The aggregate number of Securities to which this 
Schedule 13D relates is 1,023,250 shares, 
representing 17.78% of the 5,756,147 shares 
outstanding as reported in the Issuer's most recent 
Form 10-Q for the quarterly period ended September 
30, 2004.  The Reporting Persons beneficially own 
those Securities as follows:

Name
Shares of
Common Stock
% of Class 
of
Common

GBL

1,023,250

17.78%

Mario Gabelli
0
0.00%

Mario Gabelli and Gabelli Partners are deemed to have beneficial 
ownership of the Securities owned beneficially by GBL.          
(b) Each of the Reporting Persons and Covered Persons has the sole 
power to vote or direct the vote and sole power to dispose or to direct the 
disposition of the Securities reported for it, either for its own benefit or 
for the benefit of its investment clients or its partners, as the case may be, 
except that the power of Mario Gabelli, GBL, and Gabelli Partners is indirect 
with respect to Securities beneficially owned directly by other Reporting 
Persons.
(c) Information with respect to all transactions in the Securities 
which were effected during the past sixty days or since the most recent filing 
on Schedule 13D, whichever is less, by each of the Reporting Persons and 
Covered Persons is set forth on Schedule II annexed hereto and incorporated 
herein by reference.
(e) Not applicable.

Signature
After reasonable inquiry and to the best of my knowledge and belief, I 
certify that the information set forth in this statement is true, complete and 
correct.
Dated:  February 14, 2005

MARIO J. GABELLI

By:/s/ James E. McKee                   
James E. McKee
Attorney-in-Fact

GABELLI GROUP CAPITAL PARTNERS, INC.
GABELLI ASSET MANAGEMENT INC.
GABELLI SECURITIES, INC.

By:/s/ James E. McKee                   
James E. McKee
Secretary

SCHEDULE I
Information with Respect to Executive
Officers and Directors of the Undersigned

Schedule I to Schedule 13D is amended, in pertinent part, as 
follows:

The following sets forth as to each of the executive officers and 
directors of the undersigned: his name; his business address; his 
present principal occupation or employment and the name, principal 
business and address of any corporation or other organization in 
which such employment is conducted.  Unless otherwise specified, 
the principal employer of each such individual is Gabelli Group 
Capital Partners, Inc., Gabelli Asset Management Inc., Gabelli 
Funds, LLC, Gabelli & Company, Inc., or GAMCO Investors, Inc., the 
business address of each of which is One Corporate Center, Rye, New 
York 10580, and each such individual identified below is a citizen 
of the United States.  To the knowledge of the undersigned, during 
the last five years, no such person has been convicted in a 
criminal proceeding (excluding traffic violations or similar 
misdemeanors), and no such person was a party to a civil proceeding 
of a judicial or administrative body of competent jurisdiction as a 
result of which he was or is subject to a judgment, decree or final 
order enjoining future violations of, or prohibiting or mandating 
activities subject to, federal or state securities law or finding 
any violation with respect to such laws except as reported in Item 
2(d) of this Schedule 13D.

Gabelli Group Capital Partners, Inc.
Directors:

Vincent J. Amabile

Mario J. Gabelli  
Business Consultant
Chief Executive Officer and Chief Investment 
Officer of Gabelli Group Capital Partners, Inc., 
Gabelli Asset Management Inc., and GAMCO 
Investors, Inc.; Director/Trustee of all 
registered investment companies advised by Gabelli 
Funds, LLC; Chief Executive Officer of Lynch 
Interactive Corporation.

Charles C. Baum
Chairman and Director of The Morgan Group, Inc.; 
Secretary & Treasurer
United Holdings Co., Inc.
2545 Wilkens Avenue
Baltimore, MD   21223

Arnold M. Reichman
Business Consultant

Marc J. Gabelli
President of Gabelli Group Capital Partners, Inc.; 
Chairman of Lynch Corporation

Matthew R. Gabelli
Vice President - Trading
Gabelli & Company, Inc.
One Corporate Center
Rye, New York 10580
Officers:

Mario J. Gabelli

Marc J. Gabelli
Chairman, Chief Executive Officer and Chief 
Investment Officer

President Henry Kiernan
Vice President, Chief Financial Officer

Gabelli Asset Management Inc.
Directors:

Edwin L. Artzt

Raymond C. 
Avansino, Jr.

Former Chairman and Chief Executive Officer
Procter & Gamble Company
900 Adams Crossing
Cincinnati, OH 45202

Chairman
E.L. Wiegand Foundation
165 West Liberty Street
Reno, NV 89501

Mario J. Gabelli

John D. 
Gabelli

See above

Senior Vice President

John C. Ferrara
Business Consultant

Karl Otto Pohl (1)

Robert S. 
Prather

Frederic V. 
Salerno

Vincent S. 
Tese

Alan C. 
Heuberger

Sal. Oppenheim jr. & Cie.
Bockenheimer Landstrasse 20
D-6000 FRANKFURT AM MAIN
Germany

President & Chief Operating Officer
Gray Television, Inc.
4370 Peachtree Road, NE
Atlanta, GA 30319

Former Vice Chairman and Chief Financial Officer 
Verizon Communications

Lawyer, Investment Adviser and Cable Television 
Executive
c/o Bear Stearns & Company, Inc.
245 Park Avenue, 19th Floor
New York, NY 10167

Cascade Investment LLC
2365 Carillon Point
Kirkland, WA 98033

Officers:

Mario J. Gabelli

Chairman, Chief Executive Officer and Chief 
Investment Officer

Douglas R. Jamieson

Henry G. Van der Eb

Michael R. Anastasio, 
Jr.

President and Chief Operating Officer

Senior Vice President

Vice President and Chief Financial Officer
James E. McKee

Vice President, General Counsel and Secretary 

SCHEDULE II

INFORMATION WITH RESPECT TO
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)

SHARES PURCHASED     AVERAGE
DATE             SOLD(-)           PRICE(2)

COMMON STOCK-WESTWOOD HLDGS GROUP

GABELLI ASSET MANAGEMENT INC.
2/11/05           88,000            18.9500
1/06/05            7,500            19.7500
1/03/05              300            19.6500
12/31/04            2,800            19.7500
12/30/04            5,500            19.7427

(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
ON THE NYSE.

(2) PRICE EXCLUDES COMMISSION.